Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.83.

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities lowered their price target on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 14th. TD Cowen cut shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st.

Ocular Therapeutix Trading Up 1.2 %

Shares of NASDAQ OCUL opened at $6.84 on Friday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -5.07 and a beta of 1.42. The stock’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $6.38. Ocular Therapeutix has a 52-week low of $2.00 and a 52-week high of $11.31. The company has a quick ratio of 21.29, a current ratio of 21.39 and a debt-to-equity ratio of 0.16.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $14.77 million for the quarter, compared to the consensus estimate of $15.43 million. Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. On average, analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont grew its holdings in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 5,730 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Ocular Therapeutix during the fourth quarter worth about $45,000. Finally, Profund Advisors LLC increased its stake in shares of Ocular Therapeutix by 94.1% in the third quarter. Profund Advisors LLC now owns 20,827 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 10,099 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.